When rent controls establish a legal maximum rental rate below the equilibrium rental rate
A) quantity demanded exceeds quantity supplied.
B) quantity supplied exceeds quantity demanded.
C) demand exceeds supply.
D) supply exceeds demand.
Answer: A
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Long-term economic ___________ is illustrated in the AD/AS framework by a gradual shift of the aggregate supply curve to the right.
a. growth b. decline c. stagnation d. stagflation
What happens to the total surplus in a market when the government imposes a tax?
a. Total surplus increases by the amount of the tax. b. Total surplus increases but by less than the amount of the tax. c. Total surplus decreases. d. Total surplus is unaffected by the tax.
Use the information provided in Table 7.4 below to answer the question(s) that follow. Table 7.4Inputs Required to Produce a Product Using Alternative TechnologiesTechnologyUnits of CapitalNumber of EmployeesA 836B 1224C 1616D 24 12Refer to Table 7.4. Which technology is the most labor intensive?
A. A B. B C. C D. D
Refer to the information and assume that Moolah bank is "loaned up." If it receives a $100 deposit of currency, it could safely expand its loans by:
Answer the question on the basis of the following information for the Moolah Bank.
A. $100.
B. $90.
C. $900.
D. $1,000.